Duke  University  Libraries 


D03212485P 


CONFEDEEATK  STATES  OF  AMEKICA, 
Treasury  Depaktment, 

liichuioml,  Aiigtist  22</,  18()1. 

The  Congress  of  the  Confcderiite  Slates  liiis  authorized  the  Secretary  of  the  Treasury  to  issue  Bonds  to  an  extent  not 
exceeding:  one  hundred  millions  of  dollars  for  the  purpose  of  funding  its  Treasury  Notes  and  for  making  exchanges  for  the 
proceeds  of  the  sale  of  raw  produce  and  manufactured  articles,  anil  the  jiurchase  of  specie  and  of  military  stores. 

I'lider  the  authority  of  a  previous  Act  the  Secretary  appointed  Commissioners,  resident  in  different  sections  of  the 
several  States,  to  solicit  in  advance  from  planters,  manufacturers  and  others,  subscriptions  of  the  proceeds  of  the  sale  of 
their  crops  and  other  branches  of  industry,  to  be  paid  for  in  Bonds  of  the  Confederate  States. 

To  the  patriotic  and  zealous  efforts  of  these  Commissioners,  no  less  than  to  the  lofty  patriotism  of  the  people,  the 
fiovernmcnt  is  indebted  for  an  asgrejiate  subscription  which  reaches  already  many  millions  of  dollars.  The  liberality  of 
every  class  of  the  community  has  been  evinced.  The  cotton,  the  rice,  the  tobacco  and  the  susrar  planters  have  vied  with 
each  other,  and  in  tlie  first  named  staple  alone  the  subscriiilion  in  several  of  the  States  reaches  from  one-third  to  one-half 
of  the  entire  crop. 

It  is  not  proposed,  as  has  been  frei|Uiutly  explained,  to  interfere  with  the  usual  and  customary  arrangements  of  planters 
and  others  in  making  sale  of  their  produce,  'fhis  is  not  necessary.  It  is  only  asked  that  each  individual  shall  indicate  in 
advance  the  projiortiou  of  the  same  which  he  is  willing  to  snbs<ribe,  the  time  and  place  of  delivery,  tlie  factor  or  merchant 
in  whose  hands  it  is  to  be  placed  for  sale,  and  who  is  authorized  to  pay  over  the  ])roceeds  and  receive  in  exchange  Confede- 
rate ]$onds.  These  Bonds  carry  interest  of  eight  per  cent.,  payable  semi-annually,  and  arc  not  to  be  issued  of  less  denomi- 
nation than  one  hundred  dollars,  except  where  the  siibscription  is  for  a  less  amount,  when  the  limit  is  fixed  at  fifty  dollars. 
The  payment  of  the  principal  and  interest  of  the  Bonds  is  secured,  as  will  be  perceived,  by  special  -\ct  of  Congress. 

The  agricultural  and  manufacturing  interests  which  have  now  the  opportunity  of  contributing  to  the  wants  and 
sustaining  the  credit  of  the  (iovernment,  were  not  in  condition  to  make  cash  subscriptions  to  the  loan  previously  authorized. 
Their  surplus  capital  was  already  invested,  aud  their  command  of  resources,  in  the  nature  of  things,  was  mainly  to  be 
looked  for  in  the  future.  Upon  such  future  resources  they  are  authorized  safely  to  draw,  and  the  investment  proposed, 
aside  from  its  claims  on  the  score  of  jjatriotism,  may  be  regarded  altogether  as  advantageous  and  as  safe  as  any  other 
business  transaction. 

The  time  of  sale  referred  to  in  the  cajition  of  the  lists  which  are  sent  out,  is  intended  to  indicate  the  usual  date  at  which 
the  crop  is  brought  to  market,  and  will  of  course  be  subject  to  those  considerations  of  mutual  interest  which  would  postpone 
a  sale  where  the  property  would  be  sacrificed. 

Special  agents  have  been  appointed,  or  will  be  appointed,  in  every  County  and  District  of  the  South.  They  will  be 
furnished  with  subscription  lists,  and  rei|Uested  to  bring  tlie  subject  before  their  fellow-citizens  in  every  proper  manner,  by 
personal  ajipeals.  public  adtlrcsses  or  through  the  instrumentality  of  the  press.  The  results  of  their  labors  will  be  com- 
municated from  time  to  time  to  this  Department,  and  it  ix  ni/uented  that  (iijents  will  endorm  vjion  the  li-itx  the  name  of  the 
VottojUre,  County  and  State  to  trhieh  they  helorxj. 

The  sections  of  the  several  Acts  of  Congress  wliich  relate  to  the  subject  of  the  loan  are  herewith  annexed. 

C,  (i.  .MKMMlNtiER,  Seentary  oj  the  Trea.'oiry. 

AX  ACT  to  authori/.e  a  loan,  and  Issue  of  Treasury  notes,  and  prescribe  Die  punishment  for  forging;  the  same,  and  for  forging  Certificates  of  Stoclis  and  Bonds. 
Seciion  1.  Tbe  Conirress  of  die  Confederate  States  of  America  do  enact,  That  the  Secretary  of  the  Treasury  may.  with  tlie  assent  of  tlie  President  of  the  Confederate 
States,  Issue  tifly  millloDS  of  dollars  in  bonda,  payable  at  tiie  expiration  of  twenty  years  Irom  their  date,  and  bearing'  a  rate  of  interest  not  exceeding  eight  per  cent,  per 
annum  until  they  become  payaiile,  the  said  interest  to  be  paid  semt-aonually  The  said  bonds,  after  public  advertisement  in  three  newspapers  within  the  Confederate 
States  for  six  weelts,  to  be  sold  for  stiecle,  military  stores,  or  for  the  proceeds  of  sales  of  raw  produce  or  manufactured  articles,  to  be  paid  in  specie  or  liills  of  exchange 
In  such  a  manner  aid  under  such  regulati-ms  as  may  be  prescribed  by  the  Secretary  of  the  Treasury,  to  report  at  its  nest  ensulrg  session  to  the  Congress  of  the  Confede- 
rate Stales  a  precise  statement  of  his  transactions  under  this  law.  Nor  shall  the  said  bonds  be  issueil  In  fractional  parts  of  the  hundred,  or  be  exchanged  by  the  said 
Secretary  lor  Treasury  notes,  or  the  notes  of  any  bond,  corporation  or  Individual,  but  only  in  the  manner  here  n  prescribed  ;  Provided,  That  nothing  herein  contained 
shall  be  so  construed  as  to  prevent  the  Secretary  of  the  Treasury  from  receiving  foreign  bills  of  exchange  In  payment  of  these  bonds.    (Act  May  1S61.) 

A  Bill  to  be  entitled  an  Act  to  authorise  tiie  issue  of  Treasury  notes,  and  to  provide  a  War  Tax  for  their  redemption. 

Sun  rox  1.  The  Congress  of  the  Confederate  States  of  America  do  enact,  That  the  Secretary  of  the  Treasury  be,  and  he  is  hereby,  authorized,  from  time  to  time,  as  the 
pnblic  necessltle-  may  require,  to  issue  Treasury  notes,  payable  to  bearer,  at  the  expiration  of  six  monttis  after  the  ratitication  of  a  Treaty  of  Peace  between  the  Confede- 
rate States  and  the  United  frtates;  The  said  notes  to  he  of  any  denomination  not  less  than  live  dollars,  and  to  be  re-issuable  at  pleasure,  until  the  same  are  payable  ;  but 
the  whole  Issue  outstanding  at  one  time,  including  the  amount  issued  under  former  .\ct5,  sliall  not  exceed  one  hundred  millions  of  dollars  ;  tiie  said  notes  shall  be  receiva- 
ble In  pavmeot  of  the  war  tax  hereloalter  provided,  and  of  all  other  public  dues,  except  the  export  dut.v  on  cotton,  and  shall  also  be  received  In  payment  of  the  subscrip- 
tions of  tlie  nelt  proceeds  of  sales  of  raw  prorluce  and  manufactured  articles. 

Ski:,  "i  That  for  the  purpf  se  of  funding  the  said  notes,  and  for  making  exetiange  for  the  proceeds  oftlie  sale  of  raw  produce  and  manufactured  articles,  or  for  the 
purchase  of  specie  or  milltHry  stores,  the  Secretary  of  the  Treasury,  with  assent  of  the  I  risidtiit,  is  authoiizeil  to  lesue  bonds,  payable  not  more  than  twenty  years  after 
dale,  and  bearing  a  rate  of  iiittresi  not  exceeding  eluht  per  centum  per  annum  nntil  they  become  payable,  the  interest  to  be  l>aid  seiui-annually  ;  tbe  said  bonds  not  to 
excoed  in  the  whole  one  hundred  millions  of  dollars,  and  to  be  deemed  a  substitute  for  thirty  millions  of  the  bonds  authorized  to  be  issued  by  the  act  approved  May  16, 
ISftl;  and  this  act  s  to  be  decin^d  a  revocation  of  the  authority  to  Issue  the  said  thirty  millions.  The  said  bonds  shall  nol  be  Issued  In  less  sums  than  rue  hundred  dollars, 
nor  in  fractional  part«  of  a  hun>lrcd,  except  when  the  subscription  Is  less  than  one  hundred  dollars,  the  said  bonds  may  h-*,  issued  in  sums  of  fifty  dollars.  They  may  be 
jold  for  specie,  military  ami  nival  stores,  or  for  the  proceeds  of  raw  jiroduce  and  maniif  tctured  a»ticles,in  the  same  manner  as  Is  provided  by  the  act  aforesaid;  and 
whenever  subscriptions  of  tlie  same  have  been,  or  shall  be  made  payable  at  a  particular  dale,  th*  Secretary  of  the  Trtatiiry  shall  /laM  /loirer  to  extend  th-e  lime  of'  mle 
until  fiit<Jt  fitife  >ri  tie  kh^ilt  fee/ii  to  tn'/liuti'. 

Sm:.  4.  That  for  the  special  purpose  of  paying  the  principal  and  interest  of  the  public  debt,  and  of  supportingthe  flovernment,  a  war  lax  shall  he  assessed  and  levied 
of  flfly  cents  upon  cacli  bundred  dollars  in  value  of  Ujc  following  property,  etc.,  etc.    (Act  August,  isijl.) 


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